We are an FDIC bank and beginning with 2013 due to our asset size reaching over $500 million we will have to have an annual financial audit. Can anyone point me to where I can find what all of the guidelines are for this change? I need to update our Board of Directors on it next month.

We have an External CPA firm perform our annual financial audit.

We will also be doing that and I'll start soliciting bids soon but in the mean time our Board would like an update on what to expect.

Are you wanting the exact code requiring an audit?

Yes, that would be great. Also, will there be any changes to anything we do internally per the OK State Banking Code or any new reports, etc.

Send me a pm and I can help you

I'm joining the club as well COMPLIcated!

Sounds like Part 363...

http://www.fdic.gov/regulations/laws/rules/2000-8500.html

Yup! It's a fun place to be. After I went through SOX-ing at my last bank, this will be a walk in the park. (I hope!)